Indian Energy Exchange (IEX) is India’s premiere energy marketplace providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy, renewable energy certificates and energy saving certificates. The IEX platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. IEX has ISO certifications for Quality Management, Information Security Management and Environment Management since August 2016. IEX is a publicly-listed company with NSE and BSE since October 2017. IEX is approved and regulated by Central Electricity Regulatory Commission and has been operating since 27 June, 2008.
As a premier energy marketplace, IEX ecosystem comprises 6,600 participants including 60+ distribution utilities, 500+ electricity generation companies and 4,000+ open access consumers.
Powered by the intuitive and cutting edge technology and led by innovation, IEX delivers services, such as bidding, matching, price discovery, and risk management for which high uptime and availability are required to ensure superior, round the clock, and uninterrupted business operations. The STT GDC India data centre plays a critical role here as it hosts the platform and all the supporting services and applications.
“The STT GDC India data centres are highly reliable and empower us to deliver a robust trading platform solution. The team has been supportive of our needs, and so we are gradually moving more workload to STT GDC India.”
Sangh Gautam - CTO, IEX
IEX’s Winning Partnership with STT GDC India
IEX partnered with STT GDC India in the year, 2014, to take advantage of its robust, reliable and secure colocation solutions. STT GDC India provides necessary power and cooling to run the data centre, allowing IEX to manage operational complexities and focus on innovation to serve its customers better.
Speed and timing being critical in the bidding process, IEX’s need for solid technology backbone cannot be overemphasized as even a minute’s downtime will impact its reputation as a service provider. Partnering with STT GDC India since 2014, IEX has steadily grown its trading volumes, registering a CAGR of more than 16% between FY, 2015, and FY, 2019. By delivering high uptime and availability, STT GDC India has enabled IEX to focus on facilitating the distribution utilities and open access consumers to optimise power procurement and gain efficiencies.
As a listed company, being sustainable is important for IEX. The STT GDC India facilitates this objective by powering its data centres with over 30% renewable energy.
IEX - STT GDC India Collaboration: The Benefits
IEX is satisfied with the custom-made and secure data centre solutions provided by STT GDC India. Sangh Gautam, CTO, IEX, says, “As India’s leading energy marketplace, IEX leverages technology and innovation as a differentiator. We thus appreciate the collaboration with STT GDC India who serves as a reliable partner in meeting our end-to-end data solution requirements, enabling us to focus upon high-quality service enablement to our market participants. The STT GDC India data centres are highly reliable and empower us to deliver a robust trading platform solution. The team has been supportive of our needs, and so we are gradually moving more workload to STT GDC India.”
More specifically, IEX realizes the following benefits in collaborating with STT GDC India:
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